Navigating Responsibilities: Managing vs. Owning a Business
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Chapter 1: The Manager's Dilemma
On a snowy morning, as my daughter prepares to open her party store, I find myself wishing she could stay home. However, she reminded me, "The snow isn't too bad. St. Patrick's Day usually brings in a crowd." Even before she became a manager, she frequently ventured out on similar snowy days.
As I cozy up on the couch, working from home, I reflect on my own journey of managing versus owning businesses. During my time as a bar owner, inclement weather would allow me to make the decision to close for the day, prioritizing the safety of my staff. In contrast, I once found myself snowed in for three days while managing a hotel, with only one employee able to assist due to an injury. This meant I was left to clear several feet of snow all on my own.
Section 1.1: The Corporate Manager's Challenge
In a corporate environment, being a manager often means existing as a middle manager, regardless of your title. My experiences in various corporations have shown me that there is always an external force enforcing rules and regulations that must be adhered to.
Despite any semblance of control, the reality is that true decision-making power resides far away. You might have some autonomy day-to-day, but surprise inspections and quarterly reviews serve as reminders that compliance is non-negotiable, even for policies that may seem unreasonable.
Being a good manager often means dealing with numerous complications. You act as a buffer between the employees and the corporation, keenly aware of their needs. While the corporation views layoffs and hiring caps through a purely numerical lens, for you, your employees are real people. This environment can be cutthroat, and I often found it challenging to dismiss employees "just because" or reduce their hours without a valid reason.
Subsection 1.1.1: Image of Management Responsibilities
Section 1.2: The Freedom of Ownership
As a business owner, while you still need to comply with employment and business laws, you have the unique opportunity to set the tone from the outset. You can create a workplace environment that respects and considers your employees' individual circumstances.
Owning a business allows you to treat your staff as individuals rather than mere numbers. You have the power to implement fair schedules, close on holidays, or take on shifts yourself to enable your employees to spend quality time with their families. You can also offer wages that exceed the minimum, hiring based on potential rather than a rigid set of corporate interview criteria.
While the responsibilities of ownership are significant, the freedom it offers is unparalleled. As I watch my daughter, the manager, step out into the snow, I am reminded that, while she plays an important role, she is still just a component in a larger mechanism.
Chapter 2: Insights from Experience
In the video titled "Buy and Run a Business While Keeping a Job - Can It Be Done?", the complexities of managing a business alongside other commitments are explored, providing insights into balancing multiple roles effectively.
The second video, "David Buys a Business and Puts a Manager in Place for Passive Income," showcases a practical approach to business ownership and the importance of delegation for long-term success.
As I reflect on these experiences, I remain grateful for the lessons learned and the opportunity to grow within this field.
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